Saturday, October 29, 2005

Dr. Ralph F. Wilson suggests that Viral Marketing is comprised of the following components: 1. Gives away products or services 2. Provides for effortless transfer to others 3. Scales easily from small to very large 4. Exploits common motivations and behaviors 5. Utilizes existing communication networks 6. Takes advantage of others' resourcesThe effects of word-of-mouth, or viral marketing are motivations for utilizing the social network that customers belong in.

Friday, September 16, 2005

Customer analysis helps a business better meet customer needs. Learning more about your customers is often benefited by intelligent segmentation. Customers can be segmented into a variety of groups. These segments can be based on behavioural, demographic, geographic, and psychographic variables. In fact customers can be segmented by any combination of these variables. Through viewing customers within such segments the problem of identifying and serving customers is simplifed. The knowledge provided by these segments is usually useful for determining actionable marketing tactics.

Thursday, June 30, 2005

It would be great to create a device that logs all of my transactions (whatever the method used to purchase) that could be carried around while shopping. This would then enable consumers to do personal data-mining on all of their own transactions. This would be a unique tool to help consumers improve purchasing habits and make smarter decisions. Additional interesting product associations could also be calculated and analyzed.

Friday, June 17, 2005

Bamshad Mobasher teaches a nice Web Mining course entitled "Web Data Mining (for Business Intelligence)" at DePaul University in Illinois. Currently, it is one of the few courses dedicated solely to this topic. I expect, as time goes, the number of courses on this topic will grow dramatically.

Thursday, June 02, 2005

Bing Liu from the University of Chicago is very interested in Web Content Mining. He compiled of list of references regarding the topic. In addition, he gave a tutorial on Web content mining in Chiba, Japan in May, 2005.

Monday, February 07, 2005

Most social networks including the Web seem to be scale-free networks. A Scale-free network is unique because a small number of nodes are highly connected (e.g., the majority of nodes are sparsely connected).